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You are at:Home » Metaplatform chief legal officer sells $545,235 in stock
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Metaplatform chief legal officer sells $545,235 in stock

Adnan MaharBy Adnan MaharDecember 26, 2024No Comments2 Mins Read0 Views
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Jennifer Newstead, Chief Legal Officer of Meta Platforms Inc. (NASDAQ:), recently sold 905 shares of the company’s Class A common stock. The shares were sold at a price of $602.47 each, for a total transaction value of $545,235. The trade comes as Meta, currently valued at $1.52 trillion, has delivered an impressive 71% return over the past year and is trading near its 52-week high of $638.40. I was disappointed. Following the sale, Newstead will retain ownership of 33,820 shares in the company. This transaction was conducted pursuant to a Rule 10b5-1 trading plan enacted on November 30, 2023. Analysts maintain a strong bullish consensus on Meta, with the median price target suggesting further upside potential, according to InvestingPro. For deeper insight into insider trading patterns and 13 additional key metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Meta Platforms Inc. had its price target increased by both RBC Capital and Canaccord Genuity due to its strong revenue growth potential and positive growth outlook. RBC Capital maintained Meta’s Outperform rating and raised its price target to $700, reflecting the potential for earnings growth of 15-20% or more. Canaccord Genuity also remained positive on Meta, raising its price target for the company from $700 to $730.

These developments come as Meta continues to invest heavily in artificial intelligence (AI), which is expected to enhance user engagement and solidify its market presence. Additionally, the company’s Instagram platform is expected to account for half of Meta’s ad revenue in the US by 2025, according to Emarketer estimates.

But Meta has faced legal troubles, with its Irish subsidiary being fined $264 million over a data breach that affected 29 million users worldwide. Despite these developments, analysts at Truist Securities expressed a positive outlook for Meta’s 2025 outlook. These are recent developments that provide insight into the dynamic environment in which Meta operates.

This article was generated with the help of AI and reviewed by an editor. Please see our Terms of Use for more information.



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Adnan Mahar
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Adnan is a passionate doctor from Pakistan with a keen interest in exploring the world of politics, sports, and international affairs. As an avid reader and lifelong learner, he is deeply committed to sharing insights, perspectives, and thought-provoking ideas. His journey combines a love for knowledge with an analytical approach to current events, aiming to inspire meaningful conversations and broaden understanding across a wide range of topics.

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